Sweeping new trust tax changes are coming. Will they affect you?
The Australian government is implementing significant changes to trust taxation as part of its latest budget. A new 30 percent minimum tax will be introduced for discretionary trusts, which make up a large portion of registered trusts in the country. However, it is estimated that over 95 percent of Australians will not be affected by these changes.
- ▪The government is introducing a 30 percent minimum tax on discretionary trusts.
- ▪More than 95 percent of Australians are expected to be unaffected by these changes.
- ▪Only half of the trusts will be impacted in any given year.
Opening excerpt (first ~120 words) tap to expand
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.